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At this brent price and production, they're netting 40 mm USD more than guided right now. That's 1 USD cent per share per quarter extra. Not bad.
Would be nice if they could increase buybacks and go easy on the PSU/warrants; it will be end of April before we're back to EO2023 number of shares.
And there it is ... pages 14, 15, 16.
https://petrotalcorp.com/wp-content/uploads/2024/01/PetroTal-IR-Presenensation-v21-Final.pdf
Ah so, that's how Malcy delivers that rather pleasing line:
"My Target Price for PetroTal remains at 150p, with best in sector managements, excellent and growing production with scope for massive increases the company gives growth at income and capital levels and should be a core holding in any energy portfolio."
Https://petrotalcorp.com/wp-content/uploads/2024/01/PetroTal-IR-Presenensation-v21-Final.pdf
page11.
Total Potential Capacity =
70,000 bopd
PetroTal will have commercialized additional
sales routes prior to drilling its first exploration
well in Block 95 assuming favorable seismic
results.
Anyone firm up on theBlk95 exploration - Think I recall mention of Blk 95 having the potential to the sth east of more Bretena sized accumilations - anyone winkled out the details?
Equivalent closing share prices in other markets on Friday
Canada 44.3p
US 45p
France 46.3p
Some interesting articles on oilprice.com
India struggling to secure cheap Russian Oil
Plus
The market is anxiously awaiting a decision from OPEC+ on the plan for Q2 2024. The group has yet to divulge a date when it will meet to discuss the issue with its members, although April is quickly approaching. OPEC+ will need to determine whether it will stay the course and extend the current voluntary production cuts into the second quarter, whether it will deepen the cuts, or whether it will scale them back or scrap the cuts altogether. Most industry watchers favor the first option, arguing that OPEC+ has no choice but to extend the current level of production cuts if it wants to keep prices from falling.
Tuesday’s price rise does provide OPEC+ with a bit of cover, although OPEC+ still insists it is not managing prices but managing supply based on market needs.
Through $84 for first time in a while.
Brent slowly on the up. Above $83 and hopefully will close the week there.
GLA
. . . last 3 entries
25 . . . . . ;. . 3780
26 . . . . . . .16050
27 . . . . . . .35706
cum . . . .492010
[off-piste but Manolo continues with the good work]
https://diariolaregion.com/minam-resalta-apoyo-de-petrotal-para-la-conservacion-del-pacaya-samiria/
Cheers LSE
Figures up to 27th Feb-
Last 7 days: 14,902
February: 18,223
January: 18,959
Year to date: 18,616
Not sure why, but Im unable to open the pdf. Could the production figures be written on this BB please?
With Brent hovering around $83 that's great news. Only just gone ex divi and looking forward to the next one! It was the only one at the "base" level of 1.5c last year. Will be very interesting to see if that increases this year. I suspect it will given production numbers combined with oil price.
GLA
Now that you mention it, it has been a while since any TR-1/Notification of holdings RNS have come out. Good to see funds are entering the space
Https://www.morningstar.com/stocks/xfra/ser1/ownership
Generally, although Morningstar is iffy/unreliable, the percentages are upward. I have noted only two bulk buys - 325k and 400k - since the last presentation. There might have been others.
W.r.t. to the #107 entry it is, of course, an old report. When considering the $20m price tab the costs do not include infrastructure facilities, etc. Therefore it's going to take real effort getting an Osheki/Constitucion project in motion.
Https://www.reuters.com/markets/commodities/peru-grants-embattled-state-run-petroperu-800-mln-loan-guarantee-2024-02-27/
"the loan, granted by the state-owned Banco de la Nacion, will be used as the company's working capital" - so it should make new sales to Petroperu possible (though if it's not FOB, it's not very attractive).
They need to commit or they'll look stupid and have wasted a lot of money: "a bigger-than-expected $6.5 billion investment in its Talara refinery."
Very interesting, Viable. Block 107 has been "this time next year" since the IPO so I really hope they drill it, with or without a partner/farmout. Feels like it's worth wild-catting this potentiel mega monster, even if it's 20-25 mm $
Reuters article released few minutes ago confirming $800m loan guarantee awarded by Peruvian govt to Perupetro. Not sure it will ultimately effect ptal in the end but the big requirement for using ONP is their credit line being restored so let’s see
Perhaps today's movement was helped by shift in can$ exchange rate . . . regrettably I only had a few shekels in trading a/c . . . used them however @ 43.84 (not expecting fireworks short term).
Got a few more for under 44. It'd be good to see some new buyers, not just the same old regulars.
Likewise.
All looking good to me. Couldn't resist a top up (showing as a sell!) before ex divi day tomorrow.
GLA
Https://www.researchgate.net/publication/312540248_SUB-THRUST_OIL_AND_GAS_POTENTIAL_OF_BLOCK_107_A_POTENTIAL_GIANT_FIELD_COMPLEX_ALONG_THE_PERUVIAN_MOUNTAIN_FRONT
. . . looks very interesting.
(Not ONP/ meant barge movements)
https://www.perupetro.com.pe/wps/wcm/connect/corporativo/7318e1ef-aaa2-4c91-8313-7d2090cba5fa/Producci%C3%B3n+l%C3%ADquidos.pdf?MOD=AJPERES&liquidos
Looking ahead to SE leads I was hunting for the OBA Youtube example on how the Platanillo field was handled as a Ucayali tributary has to be crossed at some stage. It is a 1 km under river link:
https://www.gem.wiki/Amerisur_Binational_Pipeline
Have added for the third time this month with an equal sum in a stepover to AXL (Llanos basin). Had considered TXP but Baay has not delivered in past two years. Criticism welcomed.
ONP doing okay.